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The team from Charity Navigator, the nation's largest independent charity evaluator and leading donor advocate, shares their thoughts on emerging nonprofit-sector issues and offers tips to better inform your intelligent giving decisions.

Monday, January 26, 2009

Charity Moves Ahead, Despite the Economy

This recent New York Times article reports that the Brooklyn Academy of Music is going ahead with a five-year $300 million campaign to expand the organization’s facilities. In the midst of economic turmoil, this announcement is surprising to many. And while the Academy admits that this is a challenging time to raise money, leadership of the organization believes that now, more than ever, it is important to look toward the future.

The expanded facilities will include a small, flexible theater, large rehearsal space, classrooms, offices and a green roof; these new spaces will attract new performers and new traffic for the neighborhood – ultimately improving the local economy. Not to mention that the construction project itself will create local jobs, requiring 125 construction workers daily and involving more than 800 tradesmen.

As we’ve said before, the impact of arts organizations on a local economy is significant, and frequently the benefits these institutions bring to an area are not recognized until it is too late. If you’d like to support an arts organization, we recommend you research before you give. You can view a list of highly rated arts organizations here.